Ethics Ch.4

• Consequentialist Theories
  
  • Focus attention on the results or consequences of the decision or action
    
  • Utilitarianism:
    
    • Identifies the alternative actions of their consequences for all stakeholders
      
    • The most ethical decision maximizes benefits and minimizes harm to society
      
    • "the best for the greater good"
      
• Deontological Theories
  
  • "Duty"
    
  • Base their decisions about what's right on broad, abstract universal ethical principles or values such as honesty, promise keeping, fairness, loyalty, rights, justice, compassion, and respect for person and property
    
  • Certain moral principles are binding, regardless of the consequences.
    
  • Some actions would be considered wrong even if the consequences of the actions were good
    
  • Focuses on doing what is "right"
    
  • Some rely on Western biblical tradition or moral intuition for guidance
    
    • The "Golden Rule"
      
  • A practical Deontological question to ask "What kind of world would this be if everyone behaved this way or made this kind of decision in this type of situation?
    
• Virtue Ethics
  
  • Focuses on the integrity of the moral actor than on the moral act itself
    
  • A virtue ethics perspective considers primarily the actor's character, motivations, and intentions
    
• Eight Steps to Sound Ethical Decision Making in Business
  

1. Gather the Facts
   
2. Define the Ethical Issues
   
3. Identify the Affected Parties (the Stakeholders)
   
4. Identify the Consequences
   
   1. Long-Term vs Short-Term
      
   2. Symbolic Consequences
      
   3. Consequences of Secrecy
      
5. Identify the Obligations
   
6. Consider Your Character and Integrity
   
   1. The Disclosure rule: Would you be okay if it was published in the NY times
      
7. Think Creatively about Potential Actions
   
8. Check your Gut
   

• Practical Preventative Medicine
  
  • Read your company's code of ethics
    
  • Ask questions
    
  • Develop relationships with people who are outside of our chain of command